# INTEL DISCONTINUES BLOCKSCALE 100 ASIC CHIP
Intel has discontinued its first Bitcoin-mining chip, the Blockscale 100 ASIC, less than a year after its launch. According to Tom’s Hardware, the company has not announced any plans for a new chip to succeed it. This move raises questions about Intel’s future in the Bitcoin ASIC business, considering that in February of this year, they released a new crypto chip that promoted sustainability and the environment. Intel’s statement to Tom’s Hardware regarding its future plans stated, “We continue to monitor market opportunities.”
# INTEL’S TIMING WAS UNFORTUNATE
Just between the time they announced the chip and the time it shipped, Bitcoin had fallen by over 50%. This unfortunate timing may have contributed to the quick demise of the Blockscale 100 ASIC Chip. However, in recent months, the price of Bitcoin has rebounded and is back over $30,000. Despite this, Intel may be facing other challenges in this field.
# INTEL’S CEO IS PRUNING LESS-THAN-CORE BUSINESSES
Intel’s CEO plans to cut $8-10 billion in costs by 2025, and the company has already exited the prebuilt server business and the cellular modem business. This move seems to be part of a larger trend in which companies are shedding unnecessary businesses that are not their core focus. In light of these developments, it’s unclear whether Intel intends to continue investing in the Bitcoin ASIC business.
# RAJA KODURI, LEADER OF THE CRYPTO CHIP INITIATIVE, LEFT INTEL IN MARCH
Intel’s graphics architect, Raja Koduri, who led the crypto chip initiative, left the company earlier this year. This departure may suggest that Intel is not as committed to the crypto market as they once were.
While Intel may continue to monitor market opportunities, they have not announced any plans for a new Bitcoin-mining chip. As the tech industry continues to evolve and companies shift their focus, it’s uncertain whether Intel will continue to invest in the Bitcoin ASIC business.